September 14, 2023
gilletteagencyWhat Rental Investors should be asking their Agent when it comes to insurance?
What Rental Investors should be asking their Agent when it comes to insurance: -Premises Liability – YES this does include a “duty to defend” – even against frivolous lawsuits landlords dread! Make sure you have enough coverage. -Basic/Special Form Coverage – do you know what a Named peril vs Special Form policy mean? One is […]
August 14, 2023
gilletteagencyWhat Rental Investors should be asking when it comes to insurance
What Rental Investors should be asking when it comes to insurance: –Named Insured – is your property in your Personal Name, LLC, Corporation or Trust – make sure your entities interest matches the named insured on your policy! –Loss of Rents or Business Income – How much is your monthly rent? This can add up […]
July 20, 2023
gilletteagencyWind/Hail % Deductibles – Watch out?
Insurance Companies are looking to share their costs on Wind/Hail Damage Claims… One way is to push % deductibles on policyholders. Example: $1,000,000 Building Coverage 2% Wind/Hail Deductible = $20,000 5% Wind/Hail Deductible = $50,000 Ouch! Wind/Hail % Deductibles can lower your annual premium, BUT can you afford a large deductible if you have storm […]
July 14, 2023
gilletteagencyRequiring tenants to have Renters Insurance
Requiring tenants to have Renters Insurance is just as important as collecting a Security Deposit! As the property owner you may have recourse against a tenant’s insurance coverage if property damage is caused by a tenant’s negligence. This is not permitted if the tenant does not have their own renters’ coverage. A third party may […]
July 14, 2023
gilletteagencyPersonal Liability vs Premises Liability
Personal Liability vs Premises Liability What is the main difference between (Homeowners) Premises Liability insurance and (Rental) Premises Liability Insurance? Homeowners Liability insurance covers “You” regardless of where you are at. Rental Liability insurance protects you for negligent acts on the rental premises only. But first you need to be Negligent. Negligence can be defined […]
January 31, 2023
gilletteagencyWhat Causes Ice Dams?
Heat from the house rises and warms the roof to above 32°. Snow on the warmer parts of your roof melts, turns to water and flows down the roof to the eave. When the water reaches a part of the roof that is below 32° (normally the eave), it will freeze. Eventually, this forms a […]
January 31, 2023
gilletteagencyTips to Keep Pipes from Freezing
Tips to Keep Pipes from Freezing Turn Heat Up a Few Degrees Allow the Faucet to Drip Keep Interior Doors & Sink Cabinets Open Seal up Cracks and Holes Add Extra Insulation, Wrap Pipes in Heat Tape or Heat Cables with Thermostat Control Tips to Thaw Frozen Pipes If a pipe has broken, turn […]